LLC vs sole proprietorship. What is the best direction?

Whether to incorporate (forming an LLC or an S Corp) is a question only you can answer. It is a tradeoff between (1) limiting your personal...

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I am operating a thrift store under an LLC and would now like to make it non profit. What steps should I take to keep my age?

What is the "age" you want to keep?? Int. Rev. Code 501)(c)(3) applies only to "corporations, and any community chest, fund or foundation . . ."...

Transition from sole prop to LLC

You should sign the contract now, personally, with a clause that covers your situation. The contract should state that your business will be...

Is the contract null and void?

Depends on what the Agmt says, but normally, when a contingency fails the cotract is canceled without liability for either party. Her attorney...

Is the contract null and void?

Depends on what the Agmt says, but normally, when a contingency fails the cotract is canceled without liability for either party. Her attorney...

With a HOA's no rental policy, can we do a lease to own, since this would be considered a "purchase agreement"?

Depends on what the C,C & R's say. They probably do not define "rental" carefully, so it would come down to whether it reasonably looke like a...

Can i keep my corporation open even if i don't use it for business?

Yes, as long as you make the required filings with the State and pay the minimum taxes. If you don't the state will eventually terminate the...

If partner in Corporation walks out, is he liable for debt?

If the credit card was in the name of the corp and he did not guarantee it, then he is not liable to the credit card company. But that has nothing...

Lop-sided LLC agreement?

Do not contribute the trademark or rights to the product to the LLC. If he is a member and you later split up, he will own part of the trademark. ...

Can I start a "similar" business, the same like my previous employer?

I agree with the law as stated above. I suggest that you should think carefully about being sued. If your ex-employer is a substantial company...